DORCHESTER WEALTH MANAGEMENT Co lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,806 shares of the financial services provider’s stock after selling 1,968 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Sun Life Financial were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in SLF. Van ECK Associates Corp raised its stake in Sun Life Financial by 8.7% during the 3rd quarter. Van ECK Associates Corp now owns 9,575 shares of the financial services provider’s stock worth $390,000 after buying an additional 764 shares during the period. Wetherby Asset Management Inc. increased its stake in Sun Life Financial by 2.0% during the 3rd quarter. Wetherby Asset Management Inc. now owns 21,468 shares of the financial services provider’s stock valued at $874,000 after purchasing an additional 415 shares in the last quarter. Capital City Trust Co. FL acquired a new position in Sun Life Financial during the fourth quarter worth $204,000. Ritholtz Wealth Management lifted its stake in shares of Sun Life Financial by 26.0% in the fourth quarter. Ritholtz Wealth Management now owns 7,509 shares of the financial services provider’s stock valued at $334,000 after buying an additional 1,548 shares in the last quarter. Finally, Unison Advisors LLC grew its holdings in shares of Sun Life Financial by 0.8% during the fourth quarter. Unison Advisors LLC now owns 40,212 shares of the financial services provider’s stock valued at $1,788,000 after buying an additional 330 shares during the last quarter. 43.56% of the stock is currently owned by institutional investors.
Shares of NYSE SLF traded down $0.51 during trading on Thursday, reaching $52.12. 8,657 shares of the stock traded hands, compared to its average volume of 530,322. The stock has a market capitalization of $35.30 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.07. Sun Life Financial Inc. has a 52-week low of $30.52 and a 52-week high of $52.63. The company has a 50-day moving average of $51.17 and a 200-day moving average of $46.66.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 1st were issued a $0.433 dividend. The ex-dividend date was Friday, February 26th. This represents a $1.73 annualized dividend and a dividend yield of 3.32%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.41. Sun Life Financial’s dividend payout ratio (DPR) is presently 42.42%.
Several brokerages have recently commented on SLF. Royal Bank of Canada downgraded Sun Life Financial from an “outperform” rating to a “sector perform” rating and set a $69.00 price objective for the company. in a research note on Thursday, January 14th. They noted that the move was a valuation call. Zacks Investment Research cut Sun Life Financial from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research note on Tuesday, January 5th. Scotiabank upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 29th. Canaccord Genuity raised their price target on shares of Sun Life Financial from $68.50 to $69.00 and gave the company a “buy” rating in a research report on Friday, February 12th. Finally, National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Monday, January 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.45.
Sun Life Financial Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.
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